JNA Jan/ Feb 2021

MARKET INTELLIGENCE 56 | JNA Jan/Feb 2021 ADAPTS TO CHANGING RETAIL LANDSCAPE 中國在適應 瞬息萬變的零售格局 CHINA | Katie Wong 王嘉欣 | As it regains its economic footing after coronavirus- containment measures, the Chinese jewellery industry is adjusting its strategies to better respond to changes in the market. 中國通過採取了一系列的 新冠肺炎疫情防控措施 後，經濟逐步復蘇。珠 寶業正調整發展策略， 以應對市場變化。 Shanghai Diamond Exchange Board Director and Vice President Caroline Yuan 上海鑽石交易所董事及副總裁袁文瑤 MCLON Jewellery Co Ltd Chairman Sun Songhe 曼卡龍珠寶股份有限公司 董事長孫松鶴 Bojem Jewelry Co-Founder Joyee Zhao 寶姐珠寶聯合始創人趙藝 F or China’s jewellery market, the new normal refers to both the repercussions of the Covid-19 pandemic and the changing preferences of local consumers. At the JNA Awards-organised Return & Recovery: China’s Perspective webinar in late October 2020, industry representatives revealed that the jewellery market is being shaped by Covid-19 containment efforts and major shifts in consumer habits as members of Generation Z (born after 1995) become the country’s main spending group. Caroline Yuan, board director and vice president of the Shanghai Diamond Exchange (SDE), said China’s diamond and jewellery market is steadily recovering from the coronavirus-induced downturn. Citing SDE data, she disclosed that polished diamond imports in August and September 2020 rose to 93 per cent and 160 per cent respectively of their levels in the same periods in 2019.